SMART CONTRACTS: SECURITY ISSUES AND FURTHER DEVELOPMENT IN BRAZIL

This study aims to describe how smart contracts are made and the legal certainty of using them on business contracts. For this, the study concepted the smart contract, as well its characteristics and the difference between smart contract and e-contract. It described the legal certainty of smart con...

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Bibliographic Details
Main Authors: Luane Silva Nascimento, David Gabriel Dutra Martins
Format: Article
Language:English
Published: International Journal of Law in Changing World 2022-12-01
Series:International Journal of Law in Changing World
Subjects:
Online Access:https://ijlcw.emnuvens.com.br/revista/article/view/22
Description
Summary:This study aims to describe how smart contracts are made and the legal certainty of using them on business contracts. For this, the study concepted the smart contract, as well its characteristics and the difference between smart contract and e-contract. It described the legal certainty of smart contract and how they can be used on business transactions. Besides, the research explained the importance of blockchain, ethereum and cryptocurrency at the smart contract. At last, it was described how smart contracts are applied in the legal universe and demonstrated their advantages as self-execution and clauses’ immutability. For this work, the bibliographic research and deductive method were used. The study concluded that the inexistence of law causes legal insecurity which represents an obstacle to spread the use of smart contracts.
ISSN:2764-6068